Title 48 — Territories and Insular PossessionsRelease 119-73not60

§2150 No Full Faith and Credit of the United States

Title 48 › Chapter 20— PUERTO RICO OVERSIGHT, MANAGEMENT, AND ECONOMIC STABILITY › Subchapter II— RESPONSIBILITIES OF OVERSIGHT BOARD › § 2150

Last updated Apr 5, 2026|Official source

Summary

The United States will not promise to pay and is not responsible for any principal or interest on bonds, notes, or other debt issued by a covered territory or a covered territorial instrumentality. If the United States is ever found liable under this chapter, payment must come from funds Congress approves. This chapter does not allow federal money to be used to pay a territory’s debts.

Full Legal Text

Title 48, §2150

Territories and Insular Possessions — Source: USLM XML via OLRC

(a)The full faith and credit of the United States is not pledged for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality. The United States is not responsible or liable for the payment of any principal of or interest on any bond, note, or other obligation issued by a covered territory or covered territorial instrumentality.

(b)Any claim to which the United States is determined to be liable under this chapter shall be subject to appropriations.

(c)No Federal funds shall be authorized by this chapter for the payment of any liability of the territory or territorial instrumentality.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

This chapter, referred to in subsecs. (b) and (c), was in the original “this Act”, meaning Pub. L. 114–187, June 30, 2016, 130 Stat. 549, known as the Puerto Rico Oversight, Management, and Economic Stability Act and also as PROMESA, which is classified principally to this chapter. For complete classification of this Act to the Code, see

Short Title

note set out under section 2101 of this title and Tables.

Reference

Citations & Metadata

Citation

48 U.S.C. § 2150

Title 48 — Territories and Insular Possessions

Last Updated

Apr 5, 2026

Release point: 119-73not60